Amcor & Kolon to Develop Sustainable Polyester Packaging Materials

Amcor plc AMCR has entered into an agreement with Kolon Industries to co-develop and commercialize more sustainable polyester materials for selected applications in Amcor's flexible packaging business. With the combination of Amcor's expertise in innovative packaging with Kolon’s high-polymer manufacturing technology, the companies strive to create more environmentally friendly packaging.Amcor and Kolon to Develop New TechnologiesKolon is a leading South Korean chemical materials manufacturer. It is developing an advanced recycling process to produce new polyethylene terephthalate (PET) from post-consumer bottles, fibers and flexible packaging.The collaboration will focus on researching and developing new technologies related to chemically recycled PET and polyethylene furanoate (PEF) materials,  a polyester structure similar to PET.Using chemically recycled PET aligns with Amcor’s commitment to integrating 30% post-consumer recycled materials in its global portfolio by 2030. Also, Kolon’s PEF material will be sourced from 100% sustainable biomass and offer improved product protection. With its promise of lower product carbon footprint, PEF will also help Amcor in its journey to achieve net-zero ambitions by 2050.Amcor’s Merger Agreement With Berry GlobalA major development earlier this month was Amcor’s announcement that it had entered a definitive merger agreement with Berry Global Group, Inc. BERY This deal boosts AMCR’s growth strategy by focusing its portfolio on faster-growing, better-margin categories. The deal will bring together two highly complementary businesses, combining Amcor's global flexibles and regional containers businesses with Berry Global's regional flexibles and global containers and closures businesses.Customers will get a broader flexible film and converted film offering, as well as more sustainable solutions that promote circularity and reduce carbon footprint.Amcor currently estimates $650 million in benefits from identified costs, growth and financial synergies by the end of the third year of closing. The companies expect an additional $280 million of one-time cash benefits from working capital efficiencies, which will offset around $280 million of expected pre-tax costs to achieve synergies.Amcor’s Share Price PerformanceIn the past year, AMCR’s shares have gained 10.7% compared with the industry’s 23.1% growth. Image Source: Zacks Investment ResearchAMCR’s Zacks Rank & Stocks to ConsiderAmcor currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks from the Industrial Products sector are Federal Signal Corporation FSS and RBC Bearings Incorporated RBC. Both these companies have a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.Federal Signal has an average trailing four-quarter earnings surprise of 11.8%. The Zacks Consensus Estimate for FSS’ 2024 earnings is pinned at $3.34 per share, which indicates year-over-year growth of 29.5%. The company’s shares have gained 42% in a year.The Zacks Consensus Estimate for RBC Bearings’ fiscal 2025 earnings is pegged at $9.80 per share. The company has a trailing four-quarter average earnings surprise of 2.5%. RBC’s shares have gained 31.8% in a year.Free Today: Profiting from The Future’s Brightest Energy SourceThe demand for electricity is growing exponentially. At the same time, we’re working to reduce our dependence on fossil fuels like oil and natural gas. Nuclear energy is an ideal replacement.Leaders from the US and 21 other countries recently committed to TRIPLING the world’s nuclear energy capacities. This aggressive transition could mean tremendous profits for nuclear-related stocks – and investors who get in on the action early enough.Our urgent report, Atomic Opportunity: Nuclear Energy's Comeback, explores the key players and technologies driving this opportunity, including 3 standout stocks poised to benefit the most.Download Atomic Opportunity: Nuclear Energy's Comeback free today.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report RBC Bearings Incorporated (RBC): Free Stock Analysis Report Berry Global Group, Inc. (BERY): Free Stock Analysis Report Federal Signal Corporation (FSS): Free Stock Analysis Report Amcor PLC (AMCR): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks